Peter Dutton (Dickson, Liberal Party, Leader of the Opposition) Share this | Link to this | Hansard source

DUTTON (—) (): My question is to the Prime Minister. On 30 April this year, the Prime Minister said Australians would be 'better off under a Labor government'. The budget confirms that a typical family will be $2,000 worse off by Christmas, with inflation, the tax burden, power prices and unemployment all forecast to go up under your budget. Can the Prime Minister explain how a $2,000 hit to family budgets makes Australians better off?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

Of course, I reject the premise of the question, in which the Leader of the Opposition has simply made up figures. What he said in April was this—

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Hume will cease interjecting.

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

On 5 April, the Leader of the Opposition said:

And also the headwinds. I mean inflation is very high in the United States, and we have to be again realistic about what's happening economically over the coming years.

On 3 May, he went on to say:

… nobody wants to see interest rates go up, but it's a reality of a world where there's inflation. I think Australians understand that …

… … …

… there's a lot of pressure—upward pressure—on interest rates at the moment.

The Shadow Treasurer said: 'We're facing circumstances in what's happening in the Ukraine and Russia that were not expected and very hard to predict. These pressures are driven by extenuating circumstances.' So they had a lot to say about the difficulties that Australia is facing due to the global impact, which is a global inflationary pressure that is seeing central banks around the world with the fastest and most consistent tightening of monetary policy that we have seen in many decades.

What last night's responsible budget, handed down by the Treasurer, did was to have fiscal policy work in partnership with monetary policy, rather than against it. We make no apologies for the fact that we have brought in responsible measures, including responsible measures on the cost of living; cheaper child care—and those opposite aren't quite sure whether they're against or for that—

Mr Tony Burke (Watson, Australian Labor Party, Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

They never did it!

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

cheaper medicine—which they never did either—with the first cut to the Pharmaceutical Benefits Scheme in 75 years since a Labor government introduced it; expanding paid parental leave to six months; making more affordable housing. We're working with the private sector, working with state and territory governments to deliver more affordable housing. And, importantly, we're getting wages moving again.

People might remember during the election campaign me standing up day after day with a $1 coin, which is what we said the minimum wage should be increased by. Those opposite opposed it. They said it was reckless, said it was loose. Do you remember that? They said it was loose economic policy to argue that people on the minimum wage, the heroes of the pandemic, should get a pay increase of just $1 an hour. The Australian people judged you in May for the hypocrites and hopeless economic managers that you are, and you've learnt nothing in the days, weeks and months since.

Sam Rae (Hawke, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. How does the Albanese Labor government's first budget help to build a better future for Australia?

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

Thanks to the member for Hawke for his question about the budget last night. We're really proud of the budget that we handed down last night—the first budget of the Albanese Labor government. In uncertain times, what the budget did was recognise that when you've got all this global uncertainty right around the world, your best defence is a good, solid responsible, sensible budget at home.

But the budget does more than batten down the hatches against global uncertainty—it also begins to back families and to build a better future for this country with our five point cost-of-living relief plan of $7½ billion: cheaper child care, extension of paid parental leave, cheaper medicines, a housing accord for more affordable housing, and getting wages moving again. In addition to that cost-of-living plan, delivered in the most responsible way that we could so that we're not adding extra pressure to inflation, is our plan to grow the economy to make it stronger, more resilient and more modern. Absolutely central to that is investing in the capacity and the capabilities of our people. That's why our investments in fee-free TAFE and more university places are so important. It's why our investments in cleaner and cheaper energy are so important. It's why our investments in a future made in Australia and our National Reconstruction Fund are so important. That's how we strengthen the economy—by diversifying it, by investing in our industries and by creating new, secure well paid jobs.

Right across the board, the budget that I handed down from this despatch box last night was all about building a better future for Australians and going about it in the most responsible way. If we had continued down the path set by those opposite, we'd be up for another decade of wage stagnation, skills-and-labour shortages, a crisis in aged care, energy policy chaos and a trillion dollars with nowhere near enough to show for it. What we were able to do last night was to begin to lay the foundations for a more resilient economy and a more responsible budget.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Bowman will cease interjecting.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

We're proud of the budget that we handed down last night. We're proud of the response that we've had so far, and the hard work of cleaning up the mess left by those opposite will continue.

Honourable members interjecting—

Milton Dick (Speaker) Share this | Link to this | Hansard source

Order! There is far too much noise. I want to hear these questions in silence.